CFPB Provides Remittance Rule Relief Through 2020
As part of its policy response to the coronavirus pandemic, the Consumer Financial Protection Bureau today said it would provide...
Compliance and Risk
Agencies to Incorporate CARES Act Changes into March 31 Call Report
In a letter to bank CEOs last night, the federal banking agencies restated that they would not take action against...
ABA’s Benda Publishes Paper on COVID-19 Surface Contamination Risks
As banks manage the risks associated with physical transmission of the novel coronavirus, ABA SVP Paul Benda has authored a...
ABA, State Bankers Associations Urges FDIC, OCC to Further Refine Proposed CRA Overhaul
The OCC and FDIC have taken a “significant step” toward modernizing the Community Reinvestment Act regulations with their recent proposal...
Latest SBA Guidance Clarifies PPP Funding Period, Use of Promissory Notes
Newly added FAQs from the Small Business Administration and the Treasury Department address two challenges with the Paycheck Protection Program...
ARRC Recommends Five-Year Lookback for Cash Product Spread Adjustment Methodology
The Alternative Reference Rates Committee today recommended a spread adjustment methodology for cash products referencing the London Interbank Offered Rate.
Agencies Update Guidance on COVID-19 Loan Modifications
The federal banking agencies today updated guidance on working with borrowers affected by the coronavirus pandemic.
IRS Offers Coronavirus Resources on Economic Impact Payments, Fraud
With the government soon to be releasing economic impact payments to individuals and families, the IRS has created several resources...
OCC Supports FinCEN’s Approach to BSA Compliance During Pandemic
The OCC today issued a statement of support for the Financial Crimes Enforcement Network’s approach to Bank Secrecy Act compliance...
Agencies Temporarily Lower Community Bank Leverage Ratio to 8%
As required by Section 4012 the CARES Act, the federal banking agencies today temporarily lowered the community bank leverage ratio,...
